Exponential growth expected for Alberton property market

Strong demand in Alberton's diverse residential property market is expected to lead to exponential growth in the near future.
The city on Johannesburg's south-eastern border is already undergoing significant modernisation and densification, says David Enslin, owner of top local estate agency Harcourts 1 Vision.
Reasons for Alberton's popularity, he says, include excellent schools, established infrastructure and job opportunities in both the industrial and commercial sector. "And as a consequence of growing demand, home prices here are starting to outstrip those for equivalent homes in other centres surrounding Johannesburg."

?4 Bedroom House for sale in New Redruth, Alberton
Enslin’s agency is currently involved in several densification projects in the suburb New Redruth where large 2000sqm stands are being subdivided to make room for small cluster developments of between four and eight units. Similar developments are being undertaken in the suburbs of Alberante, Raceview and Alberton North, where even greater densification is being proposed.
The freehold units are selling briskly and finding favour among buyers in the LSM7 and higher income groups at prices from R1,25m to R1,9m. Buyers with young families are especially active at the lower end of this range, which offers three-bedroom, two-bathroom homes.

?3 Bedroom house for sale in Meyersdal, Alberton

Units at the top of the range, which offer four bedrooms, three bathrooms and double garages on stands of 500sqm, attract buyers with larger families, while those who are downscaling prefer the mid-priced units.
Meanwhile, starter homes in the traditional townships on the periphery of the city are attracting new entrants to the market at prices from around R250 000. But, says Enslin, most current local activity is in the R800 000 to R1,5m price range, with older homes offering three bedrooms and two bathrooms in suburbs such as Albertsdal, Brackendowns Extension, Mayberry Park, General Alberts Park, Florentia and Alberton North being particularly popular among first-time buyers with young families. Many of these homes are being upgraded and modernised by new owners.

?6 Bedroom House for sale in Meyersdal, Alberton

"Buyers are typically parents who both work and they are buying 'location' to take advantage of nearby schools and convenient shopping and other facilities, within an excellent infrastructure" says Enslin.
Buyers in the top end of the local market are active in lifestyle estates where prices in the Meyersdal Nature Estate, for instance, start at around R3.75m. The adjacent Meyersdal Eco Estate is also still attracting buyers at prices from around R6m. “In contrast to other areas in Alberton where densification is evident, low density is one of the strong attractions of the lifestyle estates. In Meyersdal Eco Estate, for example, only 15% of the estate is being planned for development and residents enjoy large stands with an average size of 2000sqm. The remaining portion of the estate is reserved for wildlife and natural flora.”
Enslin says that in order to prepare for the expected growth of the market, his franchise is currently on a recruitment drive for more experienced agents. "We plan to quadruple our sales staff in the next two to three years and will double the current number before the end of the year to cope with growing activity in the market."

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 24 Nov 2017
      Demand for secure estate living in Hout Bay has risen sharply in recent years, precipitating a spike in development with estate homes now accounting for 20.24% of the property landscape with the launch of an exclusive new gated development on 26 November adding 20 more units to the existing 1250 estate homes.
    • 24 Nov 2017
      There are some things that money can’t buy – spectacular views from Mouille Point to the V&A Waterfront and a trendy and lively neighbourhood that encapsulates the very best of the Cape Town lifestyle.
    • 24 Nov 2017
      Tshwane’s four-bedroom Mayoral mansion, nestled among ambassadorial residences in the upmarket suburb of Muckleneuk, fetched R5.1 million after spirited bidding at High Street Auctions’ final sale of the year.
    • 23 Nov 2017
      Reserve Bank Governor, Lesetja Kganyago, said that the Monetary Policy Committee had once again decided to let the interest rates remain unchanged with the repo rate at 6.75%, and the prime lending rate at 10.25%.
    • 23 Nov 2017
      As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit.
    • 23 Nov 2017
      The Adelphi Centre (now entitled “ARTEM") in Sea Point, Cape Town, is being extensively renovated, and once complete will offer an ultra-luxurious galleria style shopping centre unlike any other seen on the Atlantic Seaboard or in Cape Town.
    • 23 Nov 2017
      If you are looking to sell your home in today’s real estate market, there are certain things that you need to include both inside and outside your house. Today’s generation of home buyers is looking toward a more eco-friendly, energy and water conscious home, and if your house stands out then you are more likely to be able to sell it.
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us